Looking for some fun winter activities for the pre holiday weekend? Despite the often stagnant “mid season” status we are in there are actually several fun local events to be a part of this weekend here in the Ocean State! If outdoor activities are appealing you might want to consider heading down to the Newport Winter Festival which begins this weekend and runs through Feb. 25th. There will be over 150 events in the lovely “City by the Sea” (where I sold my very first home!) including a free ice sculpting demo on Saturday at the Long Wharf Mall. Check out www.newportwinterfestival.com for more info!

http://www.providencejournal.com/entertainmentlife/20180131/ri-pubs-restaurants-gear-up-for-super-bowl-sunday

As a former teacher I believe strongly in the notion that knowledge is power. The more information I can offer to my clients, the more empowered they will feel and the more fortified they will be when entering a real estate transaction!! Working with my clients and FOR my clients in the most seamless, insightful, proactive manner possible is always my main goal. Along those lines I am posting for you the common ABCs of real estate. Once a teacher, always a teacher I do say!!! Please do reach out to me if I can be of any assistance with real estate endeavors here in RI or Ma! I truly love to be of help to my clients!

Mott & Chace Sotheby International Realty’s December Market Report is featured below. I hope you find the reports informative and please reach out to me if I can be of any assistance with purchasing or listing pursuits this spring! I truly love what I do and find representing and advocating for my clients to be the most rewarding and most prized part of being a Realtor!

Mott & Chace Sotheby’s International Realty is pleased to release the Rhode Island real estate single family home statistics for December 2017 which continues to show an increasing demand for well-priced homes in the marketplace. The median home price for new listings increased 13.5%, while the supply of inventory decreased from 6.7 months to 3.3 months when compared to the same time period last year. Additionally, the average days on market decreased 19.5% in December 2017 when compared to last year. The economic indicators for real estate (low mortgage rates, low unemployment rates, inventory shortage and rising costs of rent) suggest gains will continue at least in the short term. The 13.5% increase in median home price for new listings coupled with a 3.3 months supply of inventory add credence to this trend. The economic signs that affect real estate continue to be positive. The financial markets had another record breaking year. Jobless claims are the lowest since 1973; consumer confidence rose to a 17-year high and the world economy had its best year since the financial crisis of 2008.

Major tax legislation passed in late December benefits corporations and is forecasted to help fuel the bull market yet another year. For homeowners, tax reform reduces the amount of property tax that can be deducted, increasing the after-tax cost of homeownership in higher price points. Buyers’ purchasing power is reduced as well, with the impact greatest in the luxury market. We anticipate that declining purchasing power will exert pressure on luxury inventory to offset the new math of tax reform.

We are monitoring the markets closely since the legislation passed and so far, buyer behavior appears unchanged. Properties are going under contract, transactions are going to closing and showings, a leading indicator of future pended sales, are remaining steady. The surging equity markets and growing portfolios have created an unprecedented wealth effect. However, post-recession buyers are disciplined, cautious and informed. They want a fair price that can be justified.

We wil continue to monitor market activity through the first quarter. In the interim, our job remains the same – to give buyers and sellers the tools to make an informed real estate decision. Tax changes are nuanced and tax planning is different for everyone. There is no “one size fits all” and your tax advisor can provide comprehensive guidance.

Mott & Chace Sotheby’s International Realty is pleased to release the Rhode Island real estate single family home statistics for December 2017 which continues to show an increasing demand for well-priced homes in the marketplace. The median home price for new listings increased 13.5%, while the supply of inventory decreased from 6.7 months to 3.3 months when compared to the same time period last year. Additionally, the average days on market decreased 19.5% in December 2017 when compared to last year. The economic indicators for real estate (low mortgage rates, low unemployment rates, inventory shortage and rising costs of rent) suggest gains will continue at least in the short term. The 13.5% increase in median home price for new listings coupled with a 3.3 months supply of inventory add credence to this trend. The economic signs that affect real estate continue to be positive. The financial markets had another record breaking year. Jobless claims are the lowest since 1973; consumer confidence rose to a 17-year high and the world economy had its best year since the financial crisis of 2008.

Major tax legislation passed in late December benefits corporations and is forecasted to help fuel the bull market yet another year. For homeowners, tax reform reduces the amount of property tax that can be deducted, increasing the after-tax cost of homeownership in higher price points. Buyers’ purchasing power is reduced as well, with the impact greatest in the luxury market. We anticipate that declining purchasing power will exert pressure on luxury inventory to offset the new math of tax reform.

We are monitoring the markets closely since the legislation passed and so far, buyer behavior appears unchanged. Properties are going under contract, transactions are going to closing and showings, a leading indicator of future pended sales, are remaining steady. The surging equity markets and growing portfolios have created an unprecedented wealth effect. However, post-recession buyers are disciplined, cautious and informed. They want a fair price that can be justified.

We wil continue to monitor market activity through the first quarter. In the interim, our job remains the same – to give buyers and sellers the tools to make an informed real estate decision. Tax changes are nuanced and tax planning is different for everyone. There is no “one size fits all” and your tax advisor can provide comprehensive guidance.

Another great article below reiterating how 2018 is a great year to list a home. With rates still low and expected to increase to still relatively low levels (4.5 by years end) , consumer confidence up, wage growth nationwide on an upswing and local inventory remaining tight,  this year is shaping up to be a strong year to sell. With millenials continuing to make their “financial ” mark in our local and national economy and slowly clicking into purchasing mode in suburbs AND in the urban markets, the buyer pool will continue to expand.  A new “urban suburban” niche is in fact being noted by several real estate experts indicating the trend for millenials to seek living in areas featuring amenities yet also with easy access to the cities. Many of our suburbs here in RI feature just that and are likely to attract the ever resurging millenial generation. 62% of millenials surveyed by Nielsen in fact said they prefer to live in the type of “mixed-use ” communities found in close proximity to urban centers where they can be close to shops, restaurants and cities.  This statistic behooves many homeowners living in areas just outside of PVD! If you are thinking about selling a home in RI or MA in 2018 please reach out to me so we can talk about all the real estate opportunities awaiting you ! I truly love what I do and am eager to help!

https://www.realtor.com/advice/sell/reasons-to-sell-your-home-in-2018/?identityID=57c36008e5c103660c00143e&MID=2018_0112_WeeklyNL&RID=4171415682&cid=eml-2018-0112-WeeklyNL-blog_1_reasonstosellin2018-blogs_trends

Thinking it’s “gotta be granite ?” Not anymore ! Granite has actually been falling out of favor for the past three years.  What has replaced it is engineered quartz . Other key features in 2018 kitchens are ample work stations , clean , clutter free countertops , appliance stations and maximal storage and organization.  Now more than ever consumers are seeking kitchen spaces that not only serve to feed and entertain but operate as functional work and play spaces .  That’s a heavy check list for kitchens of today but the options and price points to enable it to happen are varied and wide . Kitchen remodels are offered by a variety of design teams and contractors nationwide at all price points and with the amount of people seeking to remodel as opposed to move , this trend isn’t going away anytime soon .  Enjoy the read especially those of you seeking to sell  and who are planning  to do some house tweaking before you list ! As always I’d love to come to your property to talk about renovation ideas or pre sale “to dos” that will prove to be most lucrative when you choose to sell !

https://www.inman.com/2018/01/10/whats-hot-and-whats-not-in-2018-kitchen-trends/?utm_source=inbrief&utm_medium=email&utm_campaign=inbrief&utm_content=20180110%2B%2BREADMORE%2B1

Winter Morning in Providence, RI

The quiet, the cold and the pretty down by the shipping district this morning in Providence, RI   There are many benefits to starting the work day early. It’s quiet. It’s peaceful. It’s productive.  For many of my clients the early morning is also their best time to connect and it’s amazing how many clients will text or email before the 6 am hour. The early morning time for me is used to set the day’s goals, to check the MLS, to check in with my clients AND to take stock of all the beauty around me. The quiet, the cold and the pretty…….

Reach out to me at any time at sarah.huard@mottandchace.com with any of your real estate needs and as always, take the time to take in the beauty that abounds here in the Ocean State!

Barrington real estate while frigid, exuding plenty of light and beauty…With a median estimated listing price of $409k, 3 new listings,10 pending and 10 recently sold the market continues to hum along steadily into the new year with what looks to be a very active market come early spring! With interest rates remaining low, consumer confidence high, prices escalating at a moderate rate and inventory opening up, the spring market looks to be one very robust one indeed! Please reach out to me if you’d like to look at real estate anywhere in RI or MA! I’d love to be of help. If you are looking to sell I’d love to come meet with you to talk about real estate opportunities for you in regard to your current home. I truly love what I do! Enjoy the beauty all around us, as depicted in these two shots taken tonight, and here’s to the warmer weather to come!

A beautiful sunset tonight at Prospect Park on Providence’s East Side . With 22 properties currently for sale and 3 newly listed within the last month, now is a great time to look at East Side living! With an average sale price of $592 k and a 3 month average ” Days on Market”, buyers with competitive offers can confidently enter the offer negotation process! Rhode Island in general finished 2017 in a place of strength in the real estate world with the number of solds increasing 1.65% for single family homes and a 7% price increase as compared to 2016! The sun may be setting here at scenic Prospect Park tonight but the “tomorrows” look very bright in the lens of RI real estate and this RI born Realtor is loving every minute of it!